ANKARA (AA) – Saudi Arabia is considering selling shares in its flagship oil company Aramco, according to Deputy Crown Prince Mohammad bin Salman.
In an interview with The Economist released late on Thursday, bin Salman said that the move was under consideration, and that “a decision will be made over the next few months.”
“Personally I’m enthusiastic about this step. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco,” bin Salman said.
The move would increase transparency at the Saudi oil concern, bin Salman said. Aramco has always been wholly owned by the government of Saudi Arabia.
Aramco holds 15 percent of global oil deposits. While the sale would raise revenue for Aramco at a time of low oil prices, it would also mean ceding some control of the company to shareholders.
Bin Salman also said he would seek to list Aramco on the national stock exchange. This would also mean that the company’s financial results would become public.
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